Tyrolean apartment prices fall: Kitzbühel remains unaffordable!

Tyrolean apartment prices fall: Kitzbühel remains unaffordable!

Kitzbühel, Österreich - In the first half of 2024, Kitzbühel remains the most expensive real estate district outside of Vienna, despite a significant decline in sales. According to the Re/Max-ImmosPliegel have risen prices in the Burgenland district. The average apartment price climbs to 480,037 euros, an increase of 14.3 % compared to the previous year. It is also noteworthy that 75 % of the apartments cost over 235,000 euros, while a quarter even goes over 600,000 euros. In the same breath, however, the number of transactions fell by 31.4 % to only 179 units, which is reminiscent of the sales figures from 2011 and 2012.

real estate market under pressure

Despite the price increase, the general sales figures give cause for concern. In 2024, Tyrol recorded a total of 1,788 apartment transactions, which corresponds to a decline of 13.9 % compared to the previous year. The turnover in Tyrol fell by 127 million euros, which corresponds to a minus of 17.3 % to 609 million euros. These developments indicate that the real estate market in the region is stopping after it has reached record prices in recent years. The typical real estate prices are now an average of 306,713 euros, a decline of 3.7 %.

In addition to the development of the housing market, the wooden company Egger reports a slight sales of sales in Tyrol. This could partly be due to the declining demand in the construction industry, which also hinders the constant price increases in different regions. According to tirol.orf.at the situation is tense, since sellers have to act more carefully in view of the market development and the reduced sales quantities.